West Atlantic has been awarded a contract by Royal Mail Group (UK) to add additional aircraft to its network in 2017. The contract, which commences in January 2017, will run for a duration of five years and will consist of nine Boeing 737s and three British Aerospace ATP aircraft.

As per the terms and conditions of the corporate bond loan (ISIN SE0007783840) the interest rate increases by 50 basis points, from but excluding the first Interest Payment Date up to and including the relevant redemption date. The new terms are fixed interest of 7.0 percent, per annum, paid semi-annually.

West Atlantic today announced that Fredrik Groth, currently interim CEO, has been appointed West Atlantic’s new Chief Executive Officer. Mr. Groth assumes his new role from the time of the 2016 Annual General Meeting which was held May 25. Mr. Groth joined West Atlantic in January 2016 with over 25 years’ accumulated experience in the aviation sector.

Following a decision to cancel the project to explore the possibility of a listing of the shares on Nasdaq Stockholm, an Extraordinary General Meeting was held where the shareholders of the company decided to change the composition of the Board. The aim was to increase shareholder presence and aviation experience amongst the Directors. Mr. Gustaf Thureborn, CEO and President will in connection with this change leave his position to transfer to an advisory position with the Group. Mr. Fredrik Groth has been appointed interim CEO until the time of the 2016 Annual General Meeting.